On Sat, 17 Aug 2013 09:28:09 -0500, F. George McDuffee
wrote:

Att: Ed

The mills of the gods continue to grind [slowly]. My
question "is there now *ANY* market, including labor that is
not fixed or rigged at the macro level (and at the
taxpayers' risk?"

http://www.economist.com/news/financ...-finance-metal

===============================

On Sat, 20 Jul 2013 17:32:51 -0400, Ed Huntress
wrote:

snip
So, Golden Sacks is driving aluminum from one warehouse to another,
and then back again, to drive up prices for "warehousing" it.

Meantime, JPMorgan bought up more than half of the copper warehoused
for the US market, planning to do the same thing.
snip

FYI

http://www.cnbc.com/id/100902782

http://www.cnbc.com/id/100905731

http://www.bloomberg.com/news/2013-0...sner-says.html

http://www.bloomberg.com/news/2013-0...3-billion.html

http://www.bloomberg.com/news/2013-0...es-review.html


Ooh, yeah, it's ugly. When this first came up, I recall that some
folks questioned whether the banks were doing anything underhanded. By
now they're probably getting the idea. Sitting on commodities, making
consumers line up to get what they own and collecting rent on them
while doing it is underhanded enough. But the banks are withholding
metals from the market while trading in those metals on their own
accounts. That ought to be worth a prison term.

But they've really bought themselves trouble by taking on America's
canned-beer drinkers. That's REAL trouble, even if those drinkers will
be staggering and belching their way with pitchforks and torches.

Which reminds me, I finally got a chance to do some metal-bending last
evening! I popped the cap off of a bottle of Beck's.

--
Ed Huntress